No respite for motorists as yet another fuel hike is on the cards
South African motorists hoping for some respite from the high fuel prices could be in for yet another disappointment in May.
The latest data from the Central Energy Fund reveals an under-recovery of 55 cents per litre of petrol, according to eNCA.
Data on diesel indicates an under-recovery of approximately 5 cents.
Going by this trend, motorists could face a 55c hike per litre of 95 octane petrol and 54c hike per litre of 93 grade petrol. Diesel could rise by 5c per litre.
As is often the case, the main factor for this expected increase is the rising cost of oil on the international market.
South Africa heavily imports oil, which is now above $70 per barrel.
For coastal regions, this expected increase would push a litre of petrol to R16.04 and diesel to R14.37.
For inland regions, motorists can expect to pay R16.68 for a litre of petrol and R14.92 for a litre of diesel.